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Veeva Systems Reaches Key Milestone 18 Months Early

TheMotleyFool

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Veeva Systems Reaches Key Milestone 18 Months EarlyPhoto, wide shot, wide-angle lens, Computer hardware manufacturer, Midday, harsh overhead sunlight, directional sunlightt, photo by Marc Adamus: https://img.theapi.app/temp/ec495607-1e17-40ee-a41d-7726313a9707.png

Back in 2015, Veeva Systems (NYSE: VEEV) -- a software-as-a-service (SaaS) company for the pharmaceutical industry -- announced a bold goal: By 2020, it would have a run rate of $1 billion in annual subscription revenue.

By the end of that calendar year, it had collected just over $300 million in subscription revenue. Reaching $1 billion in half a decade was a tall order. But during this week's earnings announcement, Veeva revealed that it had met its goal -- 18 months ahead of time.

Image source: Getty Images

Source Fool.com

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